Why Goldman Sachs, Other Banks Develop Cryptocurrencies
Why banks joined the cryptocurrencies race? To stay relevant, match up to competition, exercise control or defeat existing crypto? According to the Cointelegraph twitter quiz, over 46% of participants think that banks develop their own cryptocurrencies so they can exercise control. In a patent application filed October 30, 2014, but published only recently, Goldman, Sachs & Co. has made a claim of having developed a new cryptographic currency called SETLcoin that will be held in electronic wallets. According to the description made in the application: “The wallet has the technology to....
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Global investment bank Goldman Sachs has changed its homepage to feature cryptocurrency, the metaverse, and digitalization. “From cryptocurrencies to the metaverse, explore the megatrends that are reshaping economies,” Goldman Sachs’ landing page now says. Goldman Sachs’ Homepage Now Features Crypto and Metaverse Goldman Sachs has updated its homepage to feature digitalization, including cryptocurrencies and the metaverse. The bank’s landing page now reads: From cryptocurrencies to the metaverse, explore the megatrends that are reshaping economies. Below....
Global investment banks Goldman Sachs and JPMorgan Chase are winding down business in the Russian Federation. The move comes as western sanctions against Moscow over its decision to launch a military invasion of Ukraine continue to expand, supported by leading financial institutions. Goldman Sachs and JPMorgan Scale Down Russian Operations Goldman Sachs Group and JPMorgan Chase have become the first major American banks to announce they are leaving Russia, a process that according to industry experts may take months if not years. Their decisions follow the imposing of unprecedented....
Global investment bank Goldman Sachs is reportedly predicting that the price of ether could rise to $8,000 by year-end. The bank’s analysts explained that cryptocurrencies have traded in line with inflation breakevens since 2019.
Ether Could Reach $8K by Year-End, According to Goldman Sachs
Goldman Sachs has reportedly explained in a research note circulated by the bank’s managing director of Global Markets, Bernhard Rzymelka, that the price of ether (ETH) could hit $8,000 by year-end. The note details that cryptocurrencies have traded in line with inflation....
As far as the official explanation for this round of job cuts goes, Goldman Sachs blames the harsh environment since the financial crisis. Our society is going through some very difficult economic times right now. Banks and financial institutions are axing jobs left and right. Goldman Sachs will cut nearly 30% of their Asian investment jobs over the next few years. Slow growth, and the emergence of alternative finance are two driving factors for this decision. Interestingly enough, the majority of jobs will be cut in regions where Bitcoin is thriving. Goldman Sachs Struggles In Asia. The....
Goldman Sachs is moving out of the R3 blockchain consortium as it failed to renew its membership in the fintech group. The R3 blockchain consortium is losing one of its key founding members. As reported, banking giant Goldman Sachs is walking away from the collaboration after failing to renew its membership last month. The investment bank was one of the nine original founding members of the consortium; its separation from an otherwise active development project signals its changing perspectives towards the project’s future. It is, however, not clear whether other banks have the similar....